Samsung heir in India to discuss mobile business: Sources

Mumbai, Oct 7 (IANS) Samsung Electronics Vice Chairman Lee Jae-yong is in India, provoking speculation that the South Korean tech giant may make further investments to expand its presence in the country, industry sources said Monday.

It is believed to be Lee’s first visit to India since March, Yonhap news agency reported on Monday.

Lee arrived in India on Sunday and was briefed by Samsung Electronics officials here.

Industry sources speculated that Lee could hold a meeting with Reliance Industries Chairman Mukesh Ambani during his the visit.

Samsung is one of the equipment suppliers for Reliance Jio’s 4G network business. With the Indian telecom firm planning to establish a 5G network in the country, industry observers speculate that the two moguls may consult on the issue if there is a meeting.

“There’s also a possibility that Lee could meet with Prime Minister Narendra Modi,” a source said.

“Lee’s recent visits show Samsung has a big interest in the Indian market,” he added.

Lee is the only son of hospitalized Samsung Group chief Lee Kun-hee.